2026 (9) TMI 309

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....ort referred to as "CIT(A)"), arising out of the re-assessment order passed under section 147 r.w.s. 144 of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') relating to the Assessment Year 2017-18. 2. Brief facts of the case are, the assessee is an individual has not filed return of income u/s 139(1) of the Act for the AY 2017-18. Information received by the Department that the assessee made cash deposit of Rs. 3,07,54,760/- in his Bank account maintained with ICICI Bank and also made cash withdrawal of Rs. 4,70,804/- and the total financial transaction was Rs. 3,12,25,564/-. Since the assessee has not filed return of income, the assessment was reopened by issuing notice u/s. 148A of the Act. The assessee failed to respons....

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.... well as in law, both the lower authorities has erred in passing ex parte order passed without considering the details on records filed by the appellant, which is in pure violation of the principles of natural justice, without jurisdiction, bad in law, illegal, invalid, arbitrary, void ab initio and hence liable to be quashed. 3 On the facts and in the circumstances of the case as well in law, the CIT (Appeals), NFAC has erred in confirming the order passed by the ITO, Ward 2(3)(1), Surat (for the sake of brevity The JAO) u/s 147 r.w.s. 144 of the Act by making addition of Rs. 3,12,25,564/- u/s 69A r.w.s. 115BBE of the Act, purely on misleading, misconceptual, arbitrary and perverse observations and hence, being without jurisdictio....

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.... is bad in law and therefore, deserves to be quashed. 7 Your appellant further reserves his rights to add, alter, amend or modify any of the aforesaid grounds before or at the time of hearing of an appeal. 5. Ld. Counsel appearing for the assessee submitted that, if one more opportunity be given to the assessee so that he can explain the books of accounts and the cheque discounting business carried out by the assessee, thereby, the entire addition made by the AO liable to be modified or cancelled. The assessee also raised technical grounds on reopening of the assessment. 6. Per contra, Ld. CIT DR appearing for the Revenue, supported the orders passed by the Lower Authorities and strongly opposed the contention of the assessee....